Yol Phokasub, chief executive of Central Retail, said the performance in the third quarter reflects a continued growth trend, attributed to the expansion of the retail and wholesale business, reports the Bangkok Post.
In the third quarter, Central Retail opened two new Thai Watsadu branches, expanded GO Wholesale in southern Thailand with two new branches in Phuket, and launched another GO! mall and GO! hypermarket in Vietnam.
This led to strong growth throughout the first nine months of 2024, with total revenue of B194bn and a net profit of B5.96bn.
For the last quarter of 2024, Central Retail is set to continue driving business growth in the high season through business expansion as well as festive campaigns across its stores.
For the fashion business, Central Chidlom department store will celebrate the grand opening of ‘The Store of Bangkok’ on Dec 12, offering a world-class luxury one-stop shopping experience for both Thai customers and international tourists.
For hardline business, Thai Watsadu plans to open another branch in Phrae province, reinforcing its position as Thailand’s No.1 DIY home retailer, with a total of 86 branches by the end of 2024, Mr Yoi said.
For the food business, Tops will expand with nine additional branches across all formats, reaching a total of 690 branches nationwide by the end of 2024.
GO Wholesale will open a new branch on Charoen Rat Road in Bangkok in December, aiming to end 2024 with a total of 10 branches nationwide. Go! supermarket in Vietnam is set to expand with four additional branches, totalling 14 branches across 10 provinces by the end of 2024.
For the property business, Robinson Lifestyle will launch a new business model, the ‘Strip Mall’, for the first time at Robinson Lifestyle Kanchanaburi. The new format will feature a variety of shops and services to meet customers’ lifestyle needs, attracting higher customer traffic and offering more opportunities for local small businesses.
GO! mall and GO! hypermarket in Vietnam are accelerating growth with two new branches in Bac Lieu and Ninh Thuan, responding to Vietnam’s economic upswing, with a target of ending 2024 with a total of 42 GO! malls across 32 provinces in Vietnam.